topic Re: Chase question in Credit Cards

Chase question

unc0mm0n1 — Wed, 01 May 2013 15:59:34 GMT

This forum has been great. Because of you guys I've opened up some great CCs. Anyway I was trying to pay it forward and was helping one of my Army friends apply for the Freedom card. It has been a real saga. because he had lived at his current address for only 6 months he had to provide verification. he sent in all of the information but it wasn't good enough so he had to send in more. He called in to check the status and the automated line said under review 7-10 days thing, I told him to call the customer service line and she said he was rejected. After recon with lending they said they hadn't made decision and he'd hear back in two days. Do you think he's approved? Are they just leading him on?

His Fico scores are ok 680-690 and he makes 65k the only issue I can see is he has a short credit history because we were stationed in Germany together and neither of us have had credit cards for that long (his oldest is 2 yrs old and average age is 10 months) but I was approved for the Freedom with slightly lower credit scores. It just seems strange.

Re: Chase question

09Lexie — Wed, 01 May 2013 17:02:54 GMT

It's probably the address that's holding him back. His scores, and revolving history are long enough for their requirements. Is he calling the backdoor number?

Re: Chase question

culture — Wed, 01 May 2013 18:36:41 GMT

I got approved with less than 6 months in the address , just to let you know...

Maybe it was other factors.

Re: Chase question

vish1 — Wed, 01 May 2013 18:44:20 GMT

I have a feeling that he has applied for a lot of credit recently and NO bank likes a lot of new credit on a thin file.

@unc0mm0n1 wrote:
This forum has been great. Because of you guys I've opened up some great CCs. Anyway I was trying to pay it forward and was helping one of my Army friends apply for the Freedom card. It has been a real saga. because he had lived at his current address for only 6 months he had to provide verification. he sent in all of the information but it wasn't good enough so he had to send in more. He called in to check the status and the automated line said under review 7-10 days thing, I told him to call the customer service line and she said he was rejected. After recon with lending they said they hadn't made decision and he'd hear back in two days. Do you think he's approved? Are they just leading him on?

His Fico scores are ok 680-690 and he makes 65k the only issue I can see is he has a short credit history because we were stationed in Germany together and neither of us have had credit cards for that long (his oldest is 2 yrs old and average age is 10 months) but I was approved for the Freedom with slightly lower credit scores. It just seems strange.

Re: Chase question

unc0mm0n1 — Wed, 01 May 2013 18:55:47 GMT

no he called the regular number and they switched him to lending. THey said wait two days. Should he call back using the app recon number?

Re: Chase question

vish1 — Wed, 01 May 2013 18:58:15 GMT

@unc0mm0n1 wrote:
no he called the regular number and they switched him to lending. THey said wait two days. Should he call back using the app recon number?

Can you share more about his credit profile? Cards with opening mm/yy, CL / balance. Inquiries in last 2 years.

Re: Chase question

unc0mm0n1 — Wed, 01 May 2013 19:03:54 GMT

vish1 wrote:

I have a feeling that he has applied for a lot of credit recently and NO bank likes a lot of new credit on a thin file.

You may be right he applied for an Amex (denied), Discover, and NFCU within the past couple of weeks. But looking at his CR he still only has 6 inqs over the past two years. That doesn't seem like much and his available credit isn't huge either he has a Cap1, USAA (MC and Amex), Discover and BOA. his largest CL is 3k besides the 15k from NFCU. His utility is at 11%.

Re: Chase question

unc0mm0n1 — Wed, 01 May 2013 19:07:24 GMT

@vish1 wrote:
@unc0mm0n1 wrote:
no he called the regular number and they switched him to lending. THey said wait two days. Should he call back using the app recon number?
Can you share more about his credit profile? Cards with opening mm/yy, CL / balance. Inquiries in last 2 years.

I don't have a copy of his CR in front of me. I just looked over it with him to see if anything was crazy. He had a collection on a car loan about 4-5 years ago but it was PIF. I didn't think that would be such a big deal because he paid it off and it was so long ago.

Re: Chase question

unc0mm0n1 — Thu, 02 May 2013 02:25:38 GMT

So I just got off the phone with him. He called the automated number and was approved with a 2k credit limit. Can he recon that limit. He wanted to get it up to 5k. He wants it to be one of his main CC's. Is Chase amendable to CLI immedately after you get the card? Any info on what to say?

Re: Chase question

indiolatino61 — Thu, 02 May 2013 02:30:18 GMT

@unc0mm0n1 wrote:
This forum has been great. Because of you guys I've opened up some great CCs. Anyway I was trying to pay it forward and was helping one of my Army friends apply for the Freedom card. It has been a real saga. because he had lived at his current address for only 6 months he had to provide verification. he sent in all of the information but it wasn't good enough so he had to send in more. He called in to check the status and the automated line said under review 7-10 days thing, I told him to call the customer service line and she said he was rejected. After recon with lending they said they hadn't made decision and he'd hear back in two days. Do you think he's approved? Are they just leading him on?

His Fico scores are ok 680-690 and he makes 65k the only issue I can see is he has a short credit history because we were stationed in Germany together and neither of us have had credit cards for that long (his oldest is 2 yrs old and average age is 10 months) but I was approved for the Freedom with slightly lower credit scores. It just seems strange.

I think people in the active military should be given some consideration, especially when it comes to address verification, considering they are fighting for us.

Re: Chase question

Anonymous — Thu, 02 May 2013 02:57:20 GMT

@indiolatino61 wrote:
@unc0mm0n1 wrote:
This forum has been great. Because of you guys I've opened up some great CCs. Anyway I was trying to pay it forward and was helping one of my Army friends apply for the Freedom card. It has been a real saga. because he had lived at his current address for only 6 months he had to provide verification. he sent in all of the information but it wasn't good enough so he had to send in more. He called in to check the status and the automated line said under review 7-10 days thing, I told him to call the customer service line and she said he was rejected. After recon with lending they said they hadn't made decision and he'd hear back in two days. Do you think he's approved? Are they just leading him on?

His Fico scores are ok 680-690 and he makes 65k the only issue I can see is he has a short credit history because we were stationed in Germany together and neither of us have had credit cards for that long (his oldest is 2 yrs old and average age is 10 months) but I was approved for the Freedom with slightly lower credit scores. It just seems strange.
I think people in the active military should be given some consideration, especially when it comes to address verification, considering they are fighting for us.

it's a tough decision to make.

if address verification becomes lax just for people in active military, there's a good chance they will be targetted more by identity thieves.

the damage that can be done to the bank and the client is so much more because it can take months or even years for them to find out.